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Simcere Pharmaceutical Group Announces Collaboration with OSI Pharmaceuticals

2009-10-20 17:46 678

Simcere to Develop, Manufacture and Market KDR/Kit inhibitor in China

NANJING, China, Oct. 20 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group (NYSE: SCR) ("Simcere" or the "Company"), a leading pharmaceutical company specializing in development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China, today announced an agreement with OSI Pharmaceuticals, Inc., to develop, manufacture, and market its KDR/Kit inhibitor OSI-930 in China.

Headquartered in Long Island, OSI is a NASDAQ listed pharmaceutical company specialized in discovery and development of innovative molecular targeted therapies. OSI-930 is an orally active inhibitor of two clinically validated targets: c-Kit and the vascular endothelial growth factor receptor-2 (VEGFR-2). OSI-930 is designed to target both cancer cell proliferation and blood vessel growth (angiogenesis) in selected tumors. In preclinical studies, OSI-930 shows broad efficacy in tumor models representative of small cell lung cancer, glioblastoma, colorectal, renal, head and neck, non-small cell lung cancer and gastric cancers. The company completed a phase I dose escalation study of OSI-930 in healthy volunteers. A phase I single agent dose escalation study in cancer patients has identified a recommended phase II dose and a phase Ib dose escalation study with erlotinib has also identified a recommended dose for the combination. Both phase I studies in cancer patients have been reported at recent ASCO meetings.

"OSI-930 has potential to help cancer patients, and we are delighted to cooperate with OSI Pharmaceuticals to promote this treatment in China," commented Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group. "We believe that this is a groundbreaking agreement which will become a model for future R&D cooperation between Chinese and foreign pharmaceutical companies."

Dr. Colin Goddard, Chief Executive Officer of OSI Pharmaceuticals added, "As a leading Chinese pharmaceutical company with a successful track record of developing and commercializing oncology products in China, we are confident that Simcere has the right capabilities and resources to successfully manufacture, develop and market OSI-930 in China. We are looking forward to working with Simcere on this exciting collaboration."

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leading pharmaceutical company specializing in development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China. In recent years, Simcere has been focusing its strategy on the development of innovative pharmaceuticals and first-to-market generics, and has introduced an innovative anti-cancer medication Endu, a first-to-market medication Sinofuan, and first-to-market generics such as Bicun and Anxin. Simcere manufactures and sells anti-infective medication, anti-cancer medication and stroke management medication. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, orthopaedics and infectious diseases. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com .

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions. These forward looking statements are based upon management's current views and expectations with respect to future events and are not a guarantee of future performance. Furthermore, these statements are, by their nature, subject to a number of risks and uncertainties that could cause actual performance and results to differ materially from those discussed in the forward-looking statements as a result of a number of factors. Further information regarding these and other risks is included in Simcere's filing with the U.S. Securities and Exchange Commission at http://www.sec.gov . Simcere does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Source: Simcere Pharmaceutical Group
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